TORONTO, March 23, 2017 /CNW/ - The Ontario Securities Commission (OSC) today published for comment its 2017-2018 Draft Statement of Priorities. The Draft Statement sets out the 14 priority areas where the OSC intends to focus its resources and actions in 2017-2018.
"As our capital markets evolve, our approach to regulation must adapt accordingly," said Maureen Jensen, Chair and CEO of the OSC. "Over the coming year, we intend to advance key reforms to better protect investors. We are also looking at ways to foster a regulatory environment that is less burdensome, is responsive to industry-led solutions and supports innovation in capital markets."
This year, the OSC will look for opportunities to reduce regulatory burden on market participants while maintaining appropriate investor protections. The OSC will focus on specific rules that may duplicate other requirements and examine where the regulatory costs may be disproportionate to the objectives sought.
The priority areas outlined in the Draft Statement align with the OSC's five regulatory goals, which include: deliver strong investor protection, deliver effective compliance, supervision and enforcement, deliver responsive regulation, promote financial stability through effective oversight, and be an innovative, accountable and efficient organization.
The Draft Statement is available on the OSC's website. The OSC invites stakeholders to provide written comments by May 23, 2017. After carefully considering submissions, the OSC will publish its final 2017-2018 Statement of Priorities. The OSC is working to deliver on the initiatives in its current 2016-2017 Statement of Priorities, and will release a progress report on these priorities in spring 2017.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in the capital markets. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca
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SOURCE Ontario Securities Commission
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